On Thursday evening, amid swirling speculation about a shooting at Brown University, the network's Kaitlan Collins used social media, noting the confusion and directing people to her channel's 9pm newscast.
Although CNN is certainly not a perfect news source, her message rang true to many. It stands as one of the organizations where you can find reality-based and generally trustworthy reporting – notably during crises such as the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation During a Business Struggle
Yet CNN, now middle-aged, finds itself in a precarious state as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a major game of corporate ownership, rather than as a question of what benefits the information-seeking public.
“Here is one more case of the fundamental flaws with roots in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The debate about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a corporate drama with influential figures as the central actors, but there is very little discussion of the common good,” Pickard said.
A Further Layer: Donald Trump
The network's predicament is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” adversary.
Remember the chants of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Further Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a welcome development to many at the network, but it’s far from a safe harbor. That arrangement could position CNN for a future sale. It never ends.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that competition laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by the government,” Wu argued.
The Fundamental Problem and a Way Ahead
No matter the outcome with this particular battle, the underlying crisis remains.
“Our current system is a highly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can address it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is highly improbable now, but that doesn’t mean it will not happen in the future.
Measures that strengthen independent news organizations, bolster local journalism, subsidize public media, and prevent the consolidation of media power in very few hands are not only possible – they are necessary for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN must not be tools in the newest corporate chess match.
